Indian pharma market back to pre-Covid level in FY23, says report

The Indian Pharma Market (IPM) growth has normalised to 9.3 per cent in FY23, bringing it at par to the pre-pandemic years of FY19 and FY20.

After a Covid-hit FY21 (when the IPM grew by only 2.2 per cent), the market posted a growth of 14.7 per cent in FY22, on a low base. Data from Pharmarack AWACS shows the growth in FY23 is driven by price growth.

“In March, the IPM has shown a strong growth of 13 per cent and a unit (volume) growth of 9.5 per cent. The anti-infective therapy (32.4 per cent),